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401(k) Lost & Found

During our working life, most of us change jobs. Many times. If you had a retirement account at a former employer that you lost track of, we may have good news.

Senators Elizabeth Warren and Steve Daines have sponsored a bi-partisan bill to create a searchable online “lost and found” for abandoned retirement accounts.

In the meantime, the Pension Benefits Guaranty Corporation operates a searchable database of pension accounts and expects to have 401(k) accounts added to it by 2018. The catch with the PBGC is the information is incomplete. It relies on companies voluntarily forwarding retirement account information to it. The Senate bill will create a comprehensive database.